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The markets didn't move much.  But trouble may be brewing as the U.S. inches closer to its debt ceiling.
First the scoreboard:
Dow: 13,507, +18.8, +0.1 percent

S&P 500: 1,470, -1.3, -0.0 percent

NASDAQ: 3,117, -8.1, -0.2 percent
And now the top stories:
  • This is the second trading session where stocks basically went nowhere.  But no one's complaining considering the fact that stocks currently sit near their five-year high.  However, Vitaliy Katsenelson of Contrarian Edge, notes that stocks are flat since 2000.  And he recently gave a big presentation arguing that stocks could go sideways for another decade.

  • Meanwhile, Washington continues to wrestle over a deal that would address the debt ceiling. "If Congressional Republicans refuse to pay America’s bills on time, Social Security checks, veterans benefits will be delayed," Obama said during a press conference today.  Check out this painting that describes what would happen if the U.S. defaults on its debt.

  • So, what's with the complacency in the markets?  "A key investment lesson of the last five years is that politicians eventually reach a compromise although markets may suffer in the interim," wrote Goldman Sachs' David Kostin in a note to clients this week. "Investors have become accustomed to midnight negotiations in order to avoid one dire fate after another. Accordingly, downside may be limited this time."

  • Meanwhile, computer giant Dell is reportedly in talks to be bought out in a private equity deal.  The stock jumped 13 percent on the rumor.

  • Shares of Apple fell by over 3 percent on a Wall Street Journal report that the tech giant was cutting orders for iPhone parts.